Jack Dreyfus- Two Rules

JD: I had two rules. One was not to pound the table because if you pound the table and say, “We have to do this or do that,” you put yourself in the position of not being able to retreat because you’re too proud to let go. You have to be able to cut your losses!

The second rule was to treat your investment money as if it is your mother’s money — not someone else’s mother’s money! I thought that if investors thought of it as their mother’s money they would make decisions based on their own best instinct, rather than listen to stock advisors or others.